Brunswick Corporation $BC Shares Sold by Lodge Hill Capital LLC

Key Points

• Lodge Hill Capital reduced its Brunswick stake by 9%, selling 40,000 shares and retaining 405,190 shares valued at approximately $29.5 million. Institutional investors collectively own 99.34% of Brunswick.
• Brunswick reported quarterly EPS of $0.70, exceeding the $0.46 analyst estimate, while revenue rose 12.8% year over year to $1.38 billion. The company declared a quarterly dividend of $0.44 per share, equivalent to a 2.2% annual yield.
• Analyst sentiment remains mixed, with Brunswick carrying a consensus “Hold” rating and an average price target of $87.07 versus a recent share price of $80.45.

Lodge Hill Capital LLC cut its holdings in shares of Brunswick Corporation (NYSE:BC - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 405,190 shares of the company's stock after selling 40,000 shares during the period. Brunswick makes up 4.3% of Lodge Hill Capital LLC's holdings, making the stock its 8th biggest holding. Lodge Hill Capital LLC owned 0.62% of Brunswick worth $29,482,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BC. Norges Bank acquired a new position in Brunswick during the 4th quarter valued at about $46,665,000. AQR Capital Management LLC increased its holdings in Brunswick by 812.7% during the 2nd quarter. AQR Capital Management LLC now owns 705,719 shares of the company's stock worth $38,934,000 after purchasing an additional 628,393 shares in the last quarter. Invesco Ltd. raised its stake in shares of Brunswick by 381.4% in the fourth quarter. Invesco Ltd. now owns 765,651 shares of the company's stock worth $56,842,000 after purchasing an additional 606,618 shares during the last quarter. Marshall Wace LLP grew its holdings in Brunswick by 62.4% during the third quarter. Marshall Wace LLP now owns 1,471,536 shares of the company's stock worth $93,060,000 after buying an additional 565,459 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Brunswick by 59.8% in the 3rd quarter. Franklin Resources Inc. now owns 917,649 shares of the company's stock valued at $58,032,000 after buying an additional 343,297 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company's stock.

Brunswick Stock Performance

Shares of Brunswick stock opened at $80.45 on Thursday. The business's fifty day simple moving average is $81.28 and its 200 day simple moving average is $80.36. The company has a current ratio of 1.38, a quick ratio of 0.62 and a debt-to-equity ratio of 1.13. Brunswick Corporation has a 12 month low of $55.60 and a 12 month high of $90.25. The firm has a market capitalization of $5.23 billion, a P/E ratio of -38.31 and a beta of 1.33.

Brunswick (NYSE:BC - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.24. Brunswick had a positive return on equity of 13.30% and a negative net margin of 2.47%.The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The business's revenue for the quarter was up 12.8% on a year-over-year basis. As a group, analysts anticipate that Brunswick Corporation will post 4.31 EPS for the current year.

Brunswick Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Thursday, August 20th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, August 20th. This represents a $1.76 annualized dividend and a yield of 2.2%. Brunswick's dividend payout ratio is presently -83.81%.

Insiders Place Their Bets

In related news, CEO David M. Foulkes sold 25,853 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $83.12, for a total transaction of $2,148,901.36. Following the completion of the sale, the chief executive officer owned 267,528 shares in the company, valued at approximately $22,236,927.36. This trade represents a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wall Street Zen cut Brunswick from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Morgan Stanley upped their target price on shares of Brunswick from $82.00 to $86.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 19th. Truist Financial increased their target price on shares of Brunswick from $93.00 to $94.00 and gave the company a "buy" rating in a report on Monday, July 6th. Weiss Ratings reissued a "sell (d+)" rating on shares of Brunswick in a research report on Wednesday, June 24th. Finally, DA Davidson restated a "neutral" rating and set a $76.00 price target on shares of Brunswick in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Brunswick has a consensus rating of "Hold" and a consensus target price of $87.07.

About Brunswick

Founded in 1845 by John Moses Brunswick, Brunswick Corporation is a global leader in recreation products. Headquartered in Mettawa, Illinois, the company has evolved from its origins as a billiard table manufacturer into a diversified supplier of leisure equipment, serving both consumer and commercial markets around the world.

Brunswick operates through two primary segments: Marine and Bowling & Billiards. In its Marine segment, the company designs, manufactures and distributes recreational boats, outboard engines and aftermarket parts under recognized brands such as Sea Ray, Bayliner and Mercury Marine.

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